Under terms of the agreements, OFI will become Bunge’s exclusive commercial partner to import, market, sell and distribute packaged softseed oils into the Philippines. Meanwhile, Bunge will become OFI’s exclusive commercial partner to export, market, sell and distribute coconut oil under its Farm Origin brand into countries in the Asia-Pacific region.

“We’re delighted to have OFI as our distribution partner,” said Aaron Buettner, global head of oils, Bunge Ltd. “By leveraging OFI’s capabilities in Philippines and their relationships with customers, including quick-service restaurant chains, snack food manufacturers, biscuit and confectionery manufacturers, industrial bakeries, and hotels, restaurants and caterers, Bunge will be able to fully participate in an important and growing destination market. We also look forward to being able to provide coconut oil supplied by OFI as part of our Farm Origin portfolio. This is a premium oil that fits well with our other offerings for retail and food service in the Asia-Pacific region.”

Vincent Lao, managing director for Ole-Fats, said the partnership with Bunge gives it a broader range of products to serve customers in the Philippines, and strengthens the company’s position as a supplier of choice to the country’s fast-growing food service industry.

Founded in 1963, D&L is a manufacturer of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use. Oleo-Fats was established in 1987 and has since grown to become a leading manufacturer of specialty food oils and ingredients in the Philippines. The company’s portfolio of products includes coconut, palm, soft oils, specialty fats, chocolate coatings, dry and liquid mixes, and specialty condiments.

The deal with OFI is the latest in a series of transactions for Bunge, which has been partnering with companies across the world as it seeks to grow its business.

In August, Cargill and Bunge announced their intention to enter into an agreement under which Bunge will acquire from Cargill two oilseed processing plants and businesses in the Netherlands and France.

In July, Bunge announced a joint venture expansion with Amaggi in São Paulo, Brazil, to operate on the route known as the Northern Corridor via the Tapajós waterway. Also in Brazil, Bunge acquired Moinho Pacifico, a Brazilian wheat flour miller, in August 2015.

In June, Bunge announced a joint venture with Wilmar, a crush operation in Vietnam, to further expand into Asia.